CNBC Reporting Full Liquidiation of Circuit City

[Sojourn]

Saw this earlier didn't see a thread so I thought I might as well post it.

http://www.cnbc.com/id/28691870

 

[KarmaSutra]

The trucking company I work for stopped picking up loads out of California in mid-October.

We knew they were fvcked when Sony refused them freight.

 

[Nygard]

One down, many more to come.

 

[speakeasy]

If I recall, Circuit City was already on the rocks even before the recession.

 

[f283000]

PREPARE FOR A DEPRESSION!

If you have any sort of intelligence you will go to costco or any other foodmarket and get yourself some bags of rice and other foods to store them, stock up on water,get your money out of savings accounts. We are headed for times worse than the soup lines of the great depression (and thats not just me talking its top economists)

 

[Alle_Gory]

we are headed for times worse than the soup lines of the great depression (and thats not just me talking its top economists)

These are the same idiots that said everything would be fine.

 

[j0n024]

Hmm wonder how low the prices will go when MY circuit city goes out of business...funny thing is the circuit city down here just BARELY got installed in my mall....lol.

 

[mpimpin]

I went by my circuit city tonight to see if they had begun any sales. I'm keeping an eye on it. They hadn't started and one of the employees told me she didn't know when they would start

 

[Levex]

When they do start, i'll be the first one in the door.
This sucks though, cause now best buy will have a monopoly and their prices are pretty damn high compared to other electronics retailers.

Will be shopping at wally world and online for my electronics from now on

 

[Teflon_Mcgee]

When they do start, i'll be the first one in the door.
This sucks though, cause now best buy will have a monopoly and their prices are pretty damn high compared to other electronics retailers.

Will be shopping at wally world and online for my electronics from now on

I've never shopped really shopped at Cicruit City. They went out of business here last year.

But you're right. Best Buy is a rip off. I always buy online or at Wal-mart.

 

[Upside]

PREPARE FOR A DEPRESSION!

If you have any sort of intelligence you will go to costco or any other foodmarket and get yourself some bags of rice and other foods to store them, stock up on water,get your money out of savings accounts. We are headed for times worse than the soup lines of the great depression (and thats not just me talking its top economists)

Okay, show me the facts.

 

[STR8UP]

This sucks though, cause now best buy will have a monopoly and their prices are pretty damn high compared to other electronics retailers.

That's like saying Wal-Mart would have a monopoly if K-Mart went under. Nothing is going to change with Best Buy.

This is actually no surprise. Although I much preferred shopping at Circuit than Best Buy, they never had the business to be sustainable.

That said, I am somewhat "competition" to both of them. There is a Circuit closing one block away. More market share for me!

 

[Wiesman44]

That said, I am somewhat "competition" to both of them. There is a Circuit closing one block away. More market share for me!

Meaning you own an electronics business ?

 

[Casually]

Time to shop at Best Buy

 

[mpimpin]

Chances are a liquidation company will buy up stock/merchandise and the prices will be a bit higher then if CC was liquidating themselves.

I always found CC employees to not know a damn thing about what they were selling. Really annoyed me.

On a side note I just found an old friend quit school about a month ago because she got a full time job with benefits at CC. How stupid

 

[Alle_Gory]

Okay, show me the facts.

Negative cycle fueled by mass hysteria.

People hear "OMG Depression!" They go in savings mode. Spend less.

Companies earn less. Cutbacks ensue and people get laid off.

News reports on the tiniest job losses and blow it out of proportion for ratings. People spend even less. Especially those laid off.

Repeat cycle until it hits equilibrium somewhere.

 

[Evzone]

Circuit City has had a bad business model for some time and has been getting killed by Best Buy on the low end and online retailers like NewEgg on the high end.

The financial crisis was just the final nail in the coffin; this didn't just come out of nowhere.

 

[Maxtro]

Here in California, Circuit City is the second large retail change to close in the past few months. The last Mervyn's (a discount clothing store) closed in December. This type of stuff worries me.

As for Circuit City, I never cared for it that much. I always preferred Best Buy. I also worked at Best Buy a few years ago and bought some stuff with my discount.

I went to Circuit City today which was the 1st day of their liquidation sale. I was disappointed that besides their lines being very long, the sales weren't that good. I ended up leaving empty handed.

 

[j0n024]

Best Buy was always aimed at average consumers and had pretty crappy item's the majority of the time. I use to like best buy but their overprice out the as$ and most kids that work there have no idea what the hell they are selling only what it says on the card it's pathetic...but then again you can say that about any store really.

Yesterday I went and down here we have 30% off everything so I am thinking about buying a receiver and a ps3 ..the tv's in cc suck ballz.

 

[ketostix]

On top of not always having that good of prices, Best Buy has a horrible return policy. I can't believe Best Buy does as much business as they do and so many people buy from them when they hassle you with returns and try to charge restocking fees. Walmart, Target and just about every other retailer has any excellent return policy in comparison.